Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On dissolution of a partnership firm, profit or loss on realisation will be transferred to: a. Creditors' account b. Partners' capital account c. Debtors' account

On dissolution of a partnership firm, profit or loss on realisation will be transferred to:

a. Creditors' account

b. Partners' capital account

c. Debtors' account

d. None of the options listed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Theory

Authors: William R Scott

5th Edition

0132072866, 978-0132072861

More Books

Students also viewed these Accounting questions

Question

What is the difference between absolute and relative pay?

Answered: 1 week ago